I’ve heard mixed thoughts on if each country eventually created their own cryptocurrency, would Bitcoin still be number 1 or would it fizzle out. Some say it would legitimize Bitcoin even more, others say it would make Bitcoin obsolete.
What are your thoughts?
Depends on how these supposedly crypto back up by government. But I still have doubts how a marginalized people such as crypto enthusiast will simply abandon bitcoin and used those 'digitized' money by governments.
For sure there could be tax imposed, just like common commodities which can go as high as 30%. It can also be used as a surveillance tool, to follow us and somewhat to create something like a database for government to be used whatever they wish. So I don't think that bitcoin will go obsolete.